Quiz 6 2017, questions and answers PDF

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1.

The role of goals and objectives are achieved only in the planning stage. True False

2.

Success and progress in achieving goals and objectives will be indicated by how well the vision and mission are achieved. True False

3.

In MBO systems, goals and objectives are written down for each level of the organization. True False

4.

Goals and objectives are difficult to set because: a. We might not know what they should cover b. We lay out too many of them with the hope that at least we are covering all the bases c. They are set by managers without the approval of employees d. Objectives can proliferate in organizations because new ones are set, while old ones are not discarded

5.

It is not only the top managers who set goals and objectives for the entire organization. True False

6.

Goals and objectives are a not a basis for reward systems. True False

7.

Financial outcomes are often short-term in nature, so they omit other key factors that might be very important to the longer-term viability of the organization. True False

8.

Goals are typically not set for the organization but for the stakeholders outside the organization. True False

9.

The manager should be directed and controlled by the objectives of performance rather than by his/her boss. True False

10.

When a scorecard is disseminated, strategy becomes a tool specifically for top management. True False

11.

Goals and objectives provide a form of control since they create a feedback opportunity regarding how well or how poorly the organization is executing its strategy. True False

12.

Historic financial goals and objectives, even though financial outcomes are wide ranging in scope, are also purely historic. True False

13.

Characteristics of the approach to setting and managing goals and objectives include which of the following?: a. More is better b. Measures should be linked to the capabilities of each employee. c. Measures should only include the present to ensure success d. Measures should be based around the needs of customers, shareholders and other key stakeholders

14.

Kaplan and Norton’s Balanced Scorecard, Accenture’s Performance Prism, and Skandia’s Intellectual Capital Navigator are examples of boilerplate versions of financial measurement. True False

15.

The way that the firm is organized can affect goals and objectives in a number of ways. True False

16.

The Starbucks mission statement describes guiding principles and the organization’s: a. Corporate structure b. Values c. Employee and customer focus d. Corporate social responsibility statement

17.

While there are different schools of thought about how strategy comes about, researchers generally agree the common characteristic across successful organizations is: a. Strategy trade-off b. Strategic focus c. Strategic process d. Strategy discipline

18.

Goals and objectives serve to accomplish all of the following EXCEPT: a. Gauge and report performance b. Improve performance c. Align effort d. Align goals with objectives

19.

Which of the following is considered an intangible resources? a. Scientific capabilities b. Production equipment c. Manufacturing plants d. Formal reporting structures

20.

Strategy formulation answers the question: a. How do we execute a chosen strategy? b. What should our strategy be? c. Where does strategy fit in? d. How is strategy applied to me?

21.

KPMG’s 2008 Report on U.S. Firm CSR practices found the top drivers for CSR include which of the following? a. Experience of CEO b. Nature of industry c. Innovation and learning d. Transparency and accountability

22.

Which of the following are creativity tools: a. SCAMPER b. Programmed thinking c. Passion d. Intuition

23.

How are shareholders affected by a firm’s strategies? a. Their wealth increases or decreases with firm’s actions b. Their interests increase or decrease with firm’s actions c. Their participation increases or decreases with firm’s actions d. Their decisions influence the firm’s strategies.

24.

Firms that do the product leadership strategy well include which of the following factors: a. Do not focus on innovation b. Have superb operations and execution c. Are in stagnant markets d. Focus on development, innovation, design, and time to market

25.

Characteristics of MBO includes which of the following?: a. Systematic and organized approach b. Aims to improve employee morale c. It improves communication by centralizes decision making d. Used by managers to track their best customers

26.

Controlling consists of the following steps EXCEPT: a. Write a mission and vision statement b. Establish performance standards c. Compare actual performance against standards d. Take corrective action

27.

Using Porter’s analysis, firms are likely to generate higher profits if the industry includes which of the following? a. Difficult to enter b. Unlimited rivalry c. Buyers are strong d. There are many substitutes

28.

All of the following describe Lateral EXCEPT: a. Changing patterns and perceptions b. Not necessary for creativity but helpful c. Draws on the right side of our brains d. About ideas that may not be obtainable by using only traditional step-by-step logic

29.

A Balanced Scorecard relies on which of the following processes to bind short-term activities to long-term activities?: a. Communicating the vision b. Performance metrics c. Communicating and linking d. Succession planning

30.

Objectives typically include which of the following: a. Be related directly to the values of the company b. Reflect in the strategic plan c. Be clear, concise, and understandable d. Be stated in terms of the corporate mission

31.

The different aspects of strategy as distinguished by Mintzberg include which of the following? a. Consequential b. Differentiate c. Realized d. Permanent

32.

According to Mintzberg, the percent of intended strategy realized is: a. Less than 10 b. 10-30 c. 30-50 d. more than 50

33.

Social networks are often referred to as: a. The invisible organization b. Important to organizational culture c. NIH d. Important to the mission and vision of the organization

34.

The performance plan will include a section that identifies all of the following EXCEPT: a. Expectations of how employees deal with problems b. The reward or promotion objectives c. How the employees interact with internal and external customers d. How proactive the employees are in respect to changing work

35.

Organizational culture is defined by all of the following EXCEPT: a. Life experiences of the employees b. Strengths and weakness of the staff c. Organizational mission and vision statements d. Education of the employees

1. The correct answer is 'False'. 2. The correct answer is 'False'. 3. The correct answer is 'True'. 4. The correct answer is: ‘a’ We might not know what they should cover 5. The correct answer is 'False'. 6. The correct answer is 'False'. 7. The correct answer is 'True'. 8. The correct answer is 'False'. 9. The correct answer is 'True'. 10. The correct answer is 'False'. 11. The correct answer is 'True'. 12. The correct answer is 'False'. 13. The correct answer is: ‘d’ Measures should be based around the needs of customers, shareholders and other key stakeholders 14. The correct answer is 'True'. 15. The correct answer is 'True'. 16. The correct answer is: ‘b’ Values 17. The correct answer is: ‘b’ Strategic focus 18. The correct answer is: ‘d’ Align goals with objectives 19. The correct answer is: ‘a’ Scientific capabilities 20. The correct answer is: ‘b’ What should our strategy be? 21. The correct answer is: ‘c’ Innovation and learning 22. The correct answer is: ‘a’ SCAMPER 23. The correct answer is: ‘a’ Their wealth increases or decreases with firm’s actions 24. The correct answer is: ‘d’ Focus on development, innovation, design, and time to market 25. The correct answer is: ‘a’ Systematic and organized approach 26. The correct answer is: ‘a’ Write a mission and vision statement 27. The correct answer is: ‘a’ Difficult to enter 28. The correct answer is: ‘b’ Not necessary for creativity but helpful 29. The correct answer is: ‘c’ Communicating and linking 30. The correct answer is: ‘c’ Be clear, concise, and understandable 31. The correct answer is: ‘c’ Realized 32. The correct answer is: ‘b’ 10-30 33. The correct answer is: ‘a’ The invisible organization 34. The correct answer is: ‘b’ The reward or promotion objectives 35. The correct answer is: ‘c’ Organizational mission and vision statements...